Solar costs have dropped by more than 70% over the last decade.
As the cost of installing solar panels continues to fall, solar installation grows, each year becoming a more affordable energy option for households and businesses to take advantage of.
The United States now has more than 2 million solar installations, and that number is only climbing.
As a homeowner, you might wonder how you can (and if you should) take advantage of solar energy.
By the end of this article, you should have enough information on home solar to answer this question: “Is solar energy worth it?”
We’ll also help you get started quickly and easily.
If you’re considering installing solar panels, you’ve probably caught wind that there are some major benefits associated with the investment.
First, there are important communal benefits of solar panels for both the economy and the environment.
For one, solar energy offers a clean, renewable energy source that is beneficial to the planet. In addition, it creates countless jobs for Americans each year.
Then, there are the ever-important benefits to your wallet:
When you switch to solar, you get freedom from rising electricity costs. Each year, electricity bills continue to increase. By relying largely on your own home for energy, you free yourself from dealing with these changes.
In addition, if your home solar system uses solar batteries, you can disconnect from the electric grid entirely. That means any power outages will not affect you.
Whether you’re connected to the grid or not, generating your own solar power costs you nothing. The panels you own will simply sit on top of your roof and use sunlight to create usable electricity, without any payment from you.
Because of this, there’s a good chance you’ll pay off the initial cost of installing solar panels well before the panels stop providing solar power. Once your savings have caught up to the initial investment, any additional savings is just money in your pocket.
The cost of installing solar panels continues to drop, in part due to excellent local, state, and federal tax incentives.
For instance, the Solar Investment Tax Credit (ITC) is a huge solar incentive that cuts solar panel system costs drastically. It currently covers 26% of costs but will decrease after 2020. This is a big one to take advantage of now.
There are also a variety of credits for most states and different financial options to help you get started. Solar incentives can make a huge investment altogether very affordable.
So, there’s no doubt that there are some substantial benefits when it comes to solar panels. But are those benefits worth the price?
Regardless of the fact that you’ll probably save way more money in the long run, there are considerable upfront costs.
These initial solar panel system costs are what often cause homeowners to turn away from solar altogether.
Though costs have dropped significantly over the past decade, the reality is that you could spend $10,000 - $20,000 or more on home solar.
Keep in mind that these costs can be even further reduced through federal and state solar incentives. On top of that, your utility bill savings can pay off the system in as little as 7 years. Plus, after 20 years, the average savings homeowners experience is $20,000.
In short, investing in home solar is only for those who are willing to play the long game. But is solar energy worth it? We certainly think so.
If the initial costs are still scaring you, keep in mind that PPA billing, solar leases, and loans exist to help homeowners switch to solar without breaking the bank.
Of course, solar isn’t right for everyone. Make sure you acquire as much information as possible before you commit.
For a more in-depth look at getting started with home solar, check out our free resources.
If you’re ready to make the switch, you’ll need to choose a solar company to get you set up.
Just like solar is a long term investment, getting started should be too. Solar panels can last up to 35 years, so there’s no reason to rush into it.
Compare all of your options before you start. This will help you make sure you’re getting all of the possible benefits of solar panels. For instance, the efficiency of solar panels depends on the type you choose. In addition, how quickly you’ll save depends on the company’s cost of installing solar panels.
Each solar company offers different prices and services, which is why it’s important to understand your options.
Greenlife Solar can help you compare solar companies in your area. We’ll send you free quotes for a variety of providers so that you can compare solar panel system costs and make an informed decision.
If you’re ready to browse options in your area, get started with Greenlife Solar.